Joseph A. Schumpeter
Joseph A. Schumpeter
Joseph Alois Schumpeter was an Austrian-born American economist and political scientist. He briefly served as Finance Minister of Austria in 1919. In 1932 he became a Professor at Harvard University where he remained until the end of his career. One of the most influential economists of the 20th century, Schumpeter popularized the term "creative destruction" in economics...
NationalityAmerican
ProfessionEconomist
Date of Birth8 February 1883
CountryUnited States of America
Joseph A. Schumpeter quotes about
meaningful people horizon
The very foundation of private property and free contracting wears away in a nation in which its most vital, most concrete, most meaningful types of private property and free contracting disappear from the moral horizon of the people.
judging religion firsts
To the believer Marxism presents, first, a system of ultimate ends that embody the meaning of life and are absolute standards by which to judge events and actions...
class people identity
For the duration of its collective life, or the time during which its identity may be assumed, each class resembles a hotel or an omnibus, always full, but always of different people.
style suits evolution
The evolution of the capitalist style of life could be easily - and perhaps most tellingly - described in terms of the genesis of the modern Lounge Suit.
facts genius originality
Geniuses and prophets do not usually excel in professional learning, and their originality, if any, is often due precisely to the fact that they do not.
business two community
All we can thus far say about the duration of the units of [the business cycle] and each of [its] two phases is that it will depend on the nature of the particular innovations that carry a cycle,... and the financial conditions and habits prevailing in the business community in each case.
business common-sense facts
It is, after all, only common sense to realize that, but for the fact that economic life is a process of incessant internal change, the business cycle, as we know it, would not exist.
business together revolution
Those revolutions are not strictly incessant; they occur in discrete rushes which are separated from each other by spans of comparative quiet. The process as a whole works incessantly however, in the sense that there always is either revolution or absorption of the results of revolution, both together forming what are known as business cycles.
form decomposition inevitable
Capitalism Survive?—I have tried to show that a socialist form of society will inevitably emerge from an equally inevitable decomposition of capitalist society.
achievement advent bigs
For one thing, to predict the advent of big business was considering the conditions of Marx's day an achievement in itself.
memories nations
Nothing is so retentive as a nation's memory.
demand want would-be
Want and effective demand are not the same thing. If they were, the poorest nations would be the ones to display the most vigorous demand.
soul shapes socialism
The capitalist process shapes things and souls for socialism.
decision political democracy
Democracy is a political method, that is to say, a certain type of institutional arrangement for arriving at political - legislative and administrative - decisions and hence incapable of being an end in itself.